NexMed, Inc. to Co-Sponsor Biotalk of Dr. Diego Miralles of Johnson & Johnson at the San Diego Biotechnology Discussion Group
Company Also Debuts the NexMed Biotech Partnering Initiative
SAN DIEGO--(BUSINESS WIRE)--Mar 25, 2010 - NexMed, Inc. (NASDAQ: NEXM), a specialty CRO with a pipeline of products based on the NexACT® technology, announced today that it will co-sponsor the Biotalk of G. Diego Miralles, M.D., Head of the Johnson & Johnson Pharmaceutical Research and Development (PRD) Discovery Unit, at the meeting of the San Diego Biotechnology Discussion Group (“SDBDG”) on Wednesday, March 31, 2010, from 5:30 p.m. to 8:00 p.m., at the Sorrento Summit in San Diego.
Dr. Bassam Damaj, President and Chief Executive Officer of NexMed, stated, “We have long supported the mandate of the SDBDG, and are very pleased to be a co-sponsor of the upcoming Biotalk featuring Dr. Miralles. During the meeting, we will also debut the NexMed Biotech Partnering Initiative, which is intended to foster the development programs of emerging biotechnology companies utilizing the NexACT® delivery technology. We understand that early-stage companies may not have the necessary resources to advance their development programs. Under the NexMed Initiative, we will select partners who may opt to pay with equity and a revenue-sharing arrangement, for pre-clinical discovery work to be conducted by Bio-Quant which pairs their drug compounds with the NexACT® technology. We believe that this strategy has the potential to accelerate the use of NexACT as a leading drug delivery platform.”
The San Diego Biotechnology Discussion Group (SDBDG) is a non-profit organization dedicated to promoting a greater understanding of the local biomedical industry and facilitating quality networking within the industry. The goal of the organization is to be a catalyst for the development of business-related and scientific ideas, and for the establishment of valuable professional relationships.
About NexMed, Inc.
NexMed is the largest specialty CRO based in San Diego, CA and is one of the industry's most experienced CROs for in vitro and in vivo pharmacology services and research models. The Company's goal is to generate revenues from the growth of its Discovery Pre-clinical CRO business, while aggressively seeking to monetize its proprietary NexACT drug delivery technology through out-licensing agreements with pharmaceutical and biotechnology companies, worldwide. At the same time, NexMed is actively pursuing partnering opportunities for its NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction and cancer.
Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company. For example, and without limitation, there can be no assurance that the Company's partnering initiative will succeed in advancing the development and use of the NexACT technology.
Posted: March 2010